Senior Manager, Assumption Specialist

At CVS Health, we’re building a world of health around every consumer and surrounding ourselves with dedicated colleagues who are passionate about transforming health care.

As the nation’s leading health solutions company, we reach millions of Americans through our local presence, digital channels and more than 300,000 purpose-driven colleagues – caring for people where, when and how they choose in a way that is uniquely more connected, more convenient and more compassionate. And we do it all with heart, each and every day.

Position Summary
We are seeking an Assumptions Development Specialist with a strong analytical mindset. This role requires a willingness to engage deeply with mathematical models and collaborate across various departments to ensure our underwriting model's assumptions are up-to-date and aligned with our strategic goals. Additionally, this role will provide strategic direction to the organization to achieve its business goals and ensure financial integrity. This role requires heavy collaboration with business partners to provide sound risk management advice.

Key Responsibilities:

• Assumption Development (60%): Design and conduct studies to validate and refine existing assumptions, as well as develop new assumptions. This involves rigorous analysis and collaboration with various stakeholders.
• Lead Actual to Expected Analyses (20%): Collaborate with our analytics partners (DDAT) to develop processes that compare underwriting datasets to actual outcomes. Interpret the data to identify opportunities for improving our forecasting model and work closely with the client profitability team to address key drivers.
• Capability Design (20%): Gain a comprehensive understanding of our underwriting ecosystem and work with strategy and tools development teams to design innovative solutions for emerging business challenges.
• Management Responsibilities: None, individual contributor. On a project-by-project basis, this individual will work with analysts.

Additional Responsibilities:

• Communicate direction for actuarial processes to managers, supervisors, and individual contributors, ensuring methods align with organizational goals and objectives.
• Review and interpret financial models, making recommendations for planning, forecasting, and reporting.
• Anticipate and recognize issues that materially affect financial results, making recommendations on these matters.
• Provide support for broader actuarial priorities, such as ad-hoc financial analyses and commercial client consulting.

Required Qualifications

• 7+ years of experience in financials, data analyics or an actuarial role.
• Associate or Fellow of the Society of Actuaries (ASA or FSA).

Preferred Qualifications

• 2+ years of experience working for a pharmacy benefits manager (PBM) or in Rx consulting.
• PBM and/or Healthcare experience
• Financial modeling experience
• Strong collaboration skills and willingness to work across business units within a complex organization
• Excellent oral and written communications skills; Ability to convey complex topics in clear and concise terms.
• Innovative mindset and ability to work outside of established boundaries
• Results oriented with ability to keep others on task to meet defined goals
• Degree related to finance, mathematics, statistics, actuarial science, economics, or other data related fields
• Experience working in a dynamic environment with continually evolving priorities

Education

• Bachelor's degree preferred, specialized training, or relevant professional qualification.

Pay Range

The typical pay range for this role is:

$130,295.00 - $260,590.00

This pay range represents the base hourly rate or base annual full-time salary for all positions in the job grade within which this position falls.  The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors.  This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above.  This position also includes an award target in the company’s equity award program. 
 

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